Boothbay Fund Management LLC trimmed its position in The Hartford Financial Services Group, Inc. (NYSE:HIG – Get Rating) by 55.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,548 shares of the insurance provider’s stock after selling 5,721 shares during the period. Boothbay Fund Management LLC’s holdings in The Hartford Financial Services Group were worth $282,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in The Hartford Financial Services Group by 2.7% in the third quarter. Dimensional Fund Advisors LP now owns 5,649,095 shares of the insurance provider’s stock worth $349,947,000 after purchasing an additional 147,509 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in The Hartford Financial Services Group by 5.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 5,612,529 shares of the insurance provider’s stock valued at $403,036,000 after acquiring an additional 307,231 shares during the period. LSV Asset Management boosted its stake in The Hartford Financial Services Group by 0.5% in the third quarter. LSV Asset Management now owns 5,070,789 shares of the insurance provider’s stock valued at $314,085,000 after acquiring an additional 25,235 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in The Hartford Financial Services Group by 2.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,468,502 shares of the insurance provider’s stock valued at $276,778,000 after acquiring an additional 126,893 shares during the period. Finally, Amundi boosted its stake in The Hartford Financial Services Group by 7.0% in the second quarter. Amundi now owns 2,073,119 shares of the insurance provider’s stock valued at $127,786,000 after acquiring an additional 135,057 shares during the period. 89.93% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at The Hartford Financial Services Group
In other The Hartford Financial Services Group news, EVP Jonathan R. Bennett sold 3,914 shares of the company’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $77.86, for a total value of $304,744.04. Following the transaction, the executive vice president now owns 25,643 shares of the company’s stock, valued at $1,996,563.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other The Hartford Financial Services Group news, EVP Jonathan R. Bennett sold 3,914 shares of the company’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $77.86, for a total value of $304,744.04. Following the transaction, the executive vice president now owns 25,643 shares of the company’s stock, valued at $1,996,563.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Adin M. Tooker sold 3,920 shares of the company’s stock in a transaction on Thursday, February 23rd. The shares were sold at an average price of $77.41, for a total value of $303,447.20. Following the completion of the transaction, the executive vice president now directly owns 25,820 shares in the company, valued at approximately $1,998,726.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 131,832 shares of company stock valued at $10,166,865. Corporate insiders own 1.80% of the company’s stock.
The Hartford Financial Services Group Price Performance
The Hartford Financial Services Group (NYSE:HIG – Get Rating) last announced its earnings results on Friday, February 3rd. The insurance provider reported $2.31 EPS for the quarter, topping the consensus estimate of $1.86 by $0.45. The Hartford Financial Services Group had a return on equity of 18.15% and a net margin of 8.12%. The firm had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $5.74 billion. During the same quarter in the previous year, the company earned $2.02 earnings per share. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. Equities research analysts anticipate that The Hartford Financial Services Group, Inc. will post 8.37 earnings per share for the current fiscal year.
The Hartford Financial Services Group Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 4th. Investors of record on Monday, March 6th will be issued a dividend of $0.425 per share. The ex-dividend date is Friday, March 3rd. This represents a $1.70 annualized dividend and a yield of 2.19%. The Hartford Financial Services Group’s payout ratio is 31.19%.
Wall Street Analyst Weigh In
HIG has been the subject of a number of research reports. Roth Capital restated a “neutral” rating on shares of The Hartford Financial Services Group in a research note on Friday, February 3rd. UBS Group lifted their target price on The Hartford Financial Services Group to $95.00 in a research note on Friday, November 4th. StockNews.com upgraded The Hartford Financial Services Group from a “hold” rating to a “buy” rating in a research note on Friday, February 3rd. Wells Fargo & Company boosted their price objective on The Hartford Financial Services Group from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 18th. Finally, The Goldman Sachs Group downgraded The Hartford Financial Services Group from a “buy” rating to a “neutral” rating and set a $84.00 price objective for the company. in a research report on Monday, January 9th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.00.
The Hartford Financial Services Group Profile
The Hartford Financial Services Group, Inc is an insurance and financial services company. It operates through the following segments: Commercial Lines, Personal Lines, Property & Casualty Other Operations, Group Benefits, Hartford Funds, and Corporate. The Commercial Lines segment provides workers’ compensation, property, automobile, liability and umbrella coverage under several different products.
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